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Flomerics

  • BY: Andrew Hore |
  • POSTED: 20/12/2007 |

Flomerics is selling its electromagnetic interference simulation software business for £1.6m. 

The engineering simulation software company acquired the electromagnetic interference software business nearly a decade ago but it has failed to build up a significant market share.

Computer Simulation Technology GmbH will acquire the business at the beginning of 2008. Flomerics will pay CST £250,000 out of its deferred income in order to cover the maintenance obligations relating to the products. The two companies will jointly market their software.

The deal will have a negative effect on earnings per share as Flomerics will need to reinvest the cash in order to replace the lost earnings.

The shares rose 2p to 48.5p.

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